Quanta Services stock hits all-time high, reaching 368.44 USD

Quanta Services Inc. (NYSE:PWR) stock has reached a new milestone, hitting an all-time high of 368.44 USD, with the company now commanding a market capitalization of $54.2 billion. According to InvestingPro analysis, technical indicators suggest the stock is in overbought territory. This achievement reflects a significant upward trend for the company, which has seen its stock price increase by 33.99% over the past year. The rise to this record level underscores investor confidence in Quanta Services’ growth trajectory and business strategies, supported by revenue growth of 15.77% and an EBITDA of $2.17 billion in the last twelve months. As the company continues to expand its operations and capitalize on market opportunities, its stock performance remains a key indicator of its financial health and market position. InvestingPro subscribers have access to 15 additional key insights about Quanta Services, including detailed valuation metrics and growth forecasts.

In other recent news, Quanta Services has seen several analysts adjust their price targets and maintain positive ratings, reflecting confidence in the company’s prospects. UBS raised its price target for Quanta Services to $413, citing an anticipated increase in transmission infrastructure spending in Texas, particularly with complex high-voltage lines. Goldman Sachs also increased its price target to $414, emphasizing Quanta’s leading position in transmission and distribution markets, and noted potential long-term benefits despite short-term fluctuations influenced by AI-related news. Piper Sandler adjusted its price target to $370, anticipating a rise in utility sector capital expenditure growth rates, and highlighted Quanta’s expected large project bookings. TD Cowen raised its target to $355, acknowledging Quanta’s strong first-quarter performance and its strategic positioning in grid modernization and electrification. Additionally, Quanta Services declared a quarterly cash dividend of $0.10 per share, underscoring its commitment to shareholder value. These developments indicate a positive outlook from analysts, driven by expectations of increased spending and strategic market positioning.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.